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Credit Card Malpractice Info |
It has been noticed that people are lured to get the credit cards;
they
are tempted to enjoy the luxuries of life. This has led to the increase
in usage of credit cards. They are not aware of the malpractice of the
companies offering these products. People come to know about the
policies and malpractice law after sometime when they have to pay the
hidden charges and fees. Some of them are elaborated below:
Highest
interest rates
Most of these products increase the interest rates without any prior
information. If you fail to pay at the right time, you will have to pay
higher amount. This may leave you frustrated and you starting thinking
of getting rid of the cards.
Reduced
credit on the cards
If you do not pay back the bills
at the right time, you will come to
know that the credit limit has decreased significantly.
Credit cards malpractice has been implemented by almost all the
companies offering these products.
Balance
Transfer
Most of these companies offer
balance transfer from old card to the new
card at lower interest rates. However, they do not know that even after
the transfer, the interest still remains on the card and you will be
required to pay later on. So
you will be victim of never ending credit
card malpractice.
There are various websites giving information about credit cards
complaints. If you are thinking of getting these products, it is highly
recommended to read them in advance so that you can check the terms and
conditions in advance. |
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